Portland Grain Review 05/30

May 30, 2023 Portland Price Trends 05-01-22 08-01-22 04-01-23 05-23-23 05-30-23 #1 SWW (bu) 11.10 9.00 7.65 7.05 6.95 White Club 11.60 9.00 7.65 7.05 6.95 DNS 14% 12.08 10.08 9.77 9.05 8.73 HRW 11.5% 12.48 10.00 10.05 9.06 8.50 #2 Corn (ton) 347.00 279.00 289.00 264.00 260.00 #2 Barley 275.00 235.00 240.00 220.00 220.00 Wheat...A tough start to the week coming out of the long weekend as futures hit new contract lows and west coast cash markets followed suit. White wheat bids slipped below the $7 mark for the first time in over two years. Exporter bid structures has also flattened out for all the classes of wheat, with only hard red spring showing a modest carry into the late fall months. Crop Progress...A week of more seasonable late May weather held the PNW winter wheat index unchanged at 96% of average, but there were some shifts in the state by state conditions. Idaho saw good to excellent ratings slip 5% to 55%, with all of that shifting to fair. Washington good to excellent gained 2 points to 69% and Oregon dropped a point to 39%, with more than 25% of that state's crop rated poor to very poor. Spring wheat emergence is right on track with average for both Idaho and Washington. Shipments...Weekly inspections showed another relatively good week of wheat movement off U.S ports, coming in at 14 mb to put the current year total 2% behind a year ago at 720 mb. Both hard red winteer and spring wheat shipped more than 5 mb, with soft white wheat at 2.3 mb. Thailand was the top destination off the west coast, taking 4.4 mb. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.